Dangote Refinery To Import Crude Oil As NNPCL Supply Falls Short

• Dangote Petroleum Refinery plans to import crude oil feedstock due to insufficient supply from the Nigerian National Petroleum Company (NNPCL).

• The refinery has increased production to 500,000 barrels per day (bpd) and aims to reach 650,000 bpd by June 2025.

• NNPCL supplied the refinery with 350,000 bpd, which is insufficient to meet the refinery’s demands.

Dangote Petroleum Refinery is set to import crude oil feedstock due to insufficient supply from the Nigerian National Petroleum Company (NNPCL).

The refinery has ramped up production to 500,000 barrels per day (bpd) and targets 650,000 bpd by June 2025.

According to an official who preferred anonymity, “Currently, we are at 500,000 bpd; we will ramp to 650,000 by midyear. Do you know what it means? So, it is a normal process to source crude oil anywhere it is available.”

The official noted that NNPCL supplied the refinery with around 350,000 bpd, which is insufficient to meet the refinery’s demands.

READ ALSO: Dangote Refinery Gulps 13% of Nigeria Crude Exports – Report

Devakumar Edwin, Vice President at Dangote Industries, stated, “Importing crude from other countries instead of buying locally means that our crude stockpiles will have to be higher.”

The Nigerian Upstream Petroleum Regulatory Commission estimates that 123.5 million barrels of crude will be needed by eight refineries in the first six months of 2025.

Dangote Refinery’s Petrol Production Impacts European Market – OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) has reported that the Dangote Petroleum Refinery’s efforts to ramp up petrol production are impacting the European petrol market.

According to OPEC, the refinery’s petrol exports to the international market will likely weigh further on the European gasoline market.

Continue Reading Here